Insolvency and Bankruptcy Code

Blog, News, Insolvency and Bankruptcy Code

February 17, 2022

HC stays NCLT’s order that allowed CIRP plea filed after Mar 24 for default value less than Rs. 1 Cr.

Case Details: Tharakan Web Innovations … Continue reading “HC stays NCLT’s order that allowed CIRP plea filed after Mar 24 for default value less than Rs. 1 Cr.”

Blog, News, Insolvency and Bankruptcy Code

February 15, 2022

Bank sanctioning home loans couldn’t be considered as financial creditor as liability to repay loan is on Home Buyers

Case Details: Axis Bank Ltd. … Continue reading “Bank sanctioning home loans couldn’t be considered as financial creditor as liability to repay loan is on Home Buyers”

News, Blog, Insolvency and Bankruptcy Code

February 13, 2022

IBBI amends norms for the resolution process for the corporate person; now RP to place proposal in a meeting if represented by 33% voting

Notification No: F. No. IBBI/2021-22/GN/REG/080, … Continue reading “IBBI amends norms for the resolution process for the corporate person; now RP to place proposal in a meeting if represented by 33% voting”

Blog, News, Insolvency and Bankruptcy Code

February 10, 2022

Acknowledgement of debt in the balance sheet triggers a fresh period of limitation on each acknowledgement: NCLAT

Case Details: Arrow Engineering Ltd. … Continue reading “Acknowledgement of debt in the balance sheet triggers a fresh period of limitation on each acknowledgement: NCLAT”

Blog, News, Insolvency and Bankruptcy Code

February 10, 2022

Resolution plan duly approved by CoC with 74.61% voting and in compliance with all provisions was to be approved: NCLT

Case Details: Ashok Kumar Gulla … Continue reading “Resolution plan duly approved by CoC with 74.61% voting and in compliance with all provisions was to be approved: NCLT”

Blog, News, Insolvency and Bankruptcy Code

February 9, 2022

AA rightly rejected intervention plea as operational creditor failed to comply with directions for filing claim before IRP

Case Details: RNY Healthcare Services … Continue reading “AA rightly rejected intervention plea as operational creditor failed to comply with directions for filing claim before IRP”

Blog, News, Insolvency and Bankruptcy Code

February 9, 2022

NCLT and NCLAT don’t have the power to review or recall an order/judgment passed by it: NCLAT

Case Details: Agarwal Coal Corporation … Continue reading “NCLT and NCLAT don’t have the power to review or recall an order/judgment passed by it: NCLAT”

Blog, News, Insolvency and Bankruptcy Code

February 7, 2022

AO rightfully rejected the claim that CIRP proceeding could be a ground to file a belated claim: NCLAT

Case Details: Assistant Commissioner of … Continue reading “AO rightfully rejected the claim that CIRP proceeding could be a ground to file a belated claim: NCLAT”

News, Blog, Insolvency and Bankruptcy Code

February 4, 2022

Protection u/s 11(2) of EPF Act doesn’t apply to investments by Trustees of a PF in NCDs issued by Corporate Debtor

Case Details: SESA Group Employees … Continue reading “Protection u/s 11(2) of EPF Act doesn’t apply to investments by Trustees of a PF in NCDs issued by Corporate Debtor”

Blog, News, Insolvency and Bankruptcy Code

February 4, 2022

Shri Gyaneshwar Kumar Singh’s appointment as an ex-officio member in the IBBI rescinded

Notification no. S.O. 406(E), Dated: … Continue reading “Shri Gyaneshwar Kumar Singh’s appointment as an ex-officio member in the IBBI rescinded”